The Philippine national government’s total outstanding debt climbed to a fresh record of P16.68 trillion as of end-March 2025, up P51.51 billion or 0.31 percent from the previous month, according to the Bureau of the Treasury.
The rise in debt was attributed to new borrowings from both domestic and external sources, as well as the peso’s depreciation against the US dollar, which weakened from 57.847 in December 2024 to 58.375 in January 2025.
The national government's total outstanding debt reached a record P15.69 trillion at the end of July 2024, marking an increase of P206.49 billion or 1.3 percent from the previous month.
The Philippines has risen to the top spot among 50 countries in the "2024 Investor Relations and Debt Transparency Report" by the Institute of International Finance, according to the central bank and the Finance department.